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Review of Russia's Crony Capitalism: The Path from Market Economy to Kleptocracy by Anders Åslund

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  • Michael Alexeev

Abstract

Anders Åslund provides a comprehensive description of the main political and economic events of Vladimir Putin's 20 years at the helm of the country. In politics, Åslund shows how Putin skillfully maneuvered to destroy democracy in Russia. I argue that the "cultural backlash" by older generations played perhaps an even more important role. I also show that the young generations hold rather liberal values, thus providing hope for the future. In economics, Åslund focuses on large state corporations, assets of Putin's cronies, and macroeconomic policies, with only general statements about the country's institutional weakness. I complement Åslund's analysis by a more detailed examination of the impact of institutions and briefly survey fiscal federalism and informal economic activities—issues without which the workings of the Russian economy are hard to understand.

Suggested Citation

  • Michael Alexeev, 2021. "Review of Russia's Crony Capitalism: The Path from Market Economy to Kleptocracy by Anders Åslund," Journal of Economic Literature, American Economic Association, vol. 59(1), pages 220-243, March.
    • Handle: RePEc:aea:jeclit:v:59:y:2021:i:1:p:220-43
    DOI: 10.1257/jel.20201566
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    Cited by:

    1. Richard Pomfret, 2021. "Central Asian Economies: Thirty Years After Dissolution of the Soviet Union," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(4), pages 537-556, December.

    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P35 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance

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